Stan Kroenke's ambitions for Arsenal have been thwarted by Alisher Usmanov's interest in the club, according to the Russian billionaire's inner circle. Usmanov's advisers are confident that the £10,000-a-share investment he made in acquiring a portion of his 23% stake in the Premier League leaders will deter the American from increasing his own 12.2% interest.

Usmanov's camp is also taking Kroenke's refusal to purchase when offered the 14.6% equity that previously belonged to David Dein as evidence that he has no stomach for further investment. "Kroenke will not put a bid together," said a source. "Look at the investment he made: £6,500 a share. He could have bought Dein's shares but he didn't."

Kroenke's intentions, beyond opening more active dialogue with the club's current board, have never been made public. A meeting between the US sports tycoon, who is himself a billionaire, and directors will take place this month.

Usmanov hinted this week that he was interested in learning more about Kroenke, who owns a portfolio of US sports clubs including Colorado Rapids, who are in the process of finalising a marketing agreement with Arsenal.

"Kroenke is the best shareholder in the football club," said the Russian. When asked whether he would seek to hold talks with Kroenke he said: "If someone wants to have a relation with me then fine." However, it is unlikely that will come to pass.

Kroenke is believed to consider the £125m Usmanov has paid in building his position at Arsenal extravagant but he is keeping his investment options open. Usmanov might believe that he can entice the American into selling his significant stake - which, if acquired, would trigger a mandatory takeover bid from the Russian - for a £30m profit on his outlay in March and April.

"The lock-down agreement [obliging shareholders not to sell over a 12-month period] was in response to Kroenke's involvement and a long time before we bought shares," said Usmanov's more junior co-investor, Farhad Moshiri. "The shareholders want to keep Arsenal independent and that's fine. But if the directors refuse to sign the lock-down then that's a new environment. How that will affect our involvement and how it will affect the directors we will see."

Dein, who is the chairman of Usmanov's investment company, Red & White Holdings, is believed to remain upbeat despite the remarks that Usmanov made this week expressing concern about the former Arsenal vice-chairman's negative relationship with the club's current directors.